Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Receives Consensus Rating of “Buy” from Analysts

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) have earned an average rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.00.

Several equities research analysts recently weighed in on UMAC shares. Piper Sandler initiated coverage on Unusual Machines in a report on Wednesday. They set an “overweight” rating and a $38.00 price objective on the stock. Needham & Company LLC upped their target price on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. HC Wainwright started coverage on Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 target price for the company. National Bank Financial set a $42.00 price target on Unusual Machines in a research note on Wednesday, July 15th. Finally, Roth Capital lifted their price target on Unusual Machines to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd.

Unusual Machines Price Performance

UMAC stock opened at $27.24 on Friday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -104.77 and a beta of 14.92. The company has a 50 day simple moving average of $22.08 and a 200 day simple moving average of $18.04. Unusual Machines has a 1 year low of $7.24 and a 1 year high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. On average, equities research analysts anticipate that Unusual Machines will post -0.72 EPS for the current fiscal year.

Insider Activity at Unusual Machines

In other Unusual Machines news, CFO Brian Joseph Hoff sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total transaction of $2,656,500.00. Following the sale, the chief financial officer directly owned 352,650 shares of the company’s stock, valued at $6,245,431.50. The trade was a 29.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey M. Thompson sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the completion of the transaction, the director owned 4,794,392 shares of the company’s stock, valued at approximately $129,256,808.32. This trade represents a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 280,000 shares of company stock worth $6,477,200 in the last quarter. 7.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Unusual Machines

Hedge funds have recently modified their holdings of the business. NFSG Corp acquired a new stake in Unusual Machines in the first quarter valued at $37,000. Wexford Capital LP acquired a new position in Unusual Machines during the 3rd quarter worth about $40,000. Bank of America Corp DE grew its position in shares of Unusual Machines by 7,372.6% in the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after buying an additional 7,004 shares during the last quarter. Ankerstar Wealth LLC bought a new stake in shares of Unusual Machines in the 4th quarter valued at about $64,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of Unusual Machines by 54.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock valued at $79,000 after buying an additional 2,169 shares during the last quarter.

About Unusual Machines

Unusual Machines, Inc designs, manufactures, and sells ultra-low latency video goggles for drone pilots. It operates a drone-focused e-commerce marketplace. The company serves drone pilots, hobbyists, and recreational services. The company was formerly known as AerocarveUS Corporation and changed its name to Unusual Machines, Inc in July 2022. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.